Harmony Asset Management LLC Purchases 25,637 Shares of Bank of America Corporation $BAC

Harmony Asset Management LLC boosted its holdings in Bank of America Corporation (NYSE:BAC) by 106.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,675 shares of the financial services provider's stock after purchasing an additional 25,637 shares during the quarter. Harmony Asset Management LLC's holdings in Bank of America were worth $2,422,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brighton Jones LLC increased its holdings in Bank of America by 30.0% during the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock worth $4,785,000 after purchasing an additional 25,143 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Bank of America by 40.5% in the second quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider's stock valued at $1,013,000 after purchasing an additional 6,174 shares in the last quarter. Jump Financial LLC lifted its holdings in shares of Bank of America by 38.4% in the second quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider's stock valued at $3,108,000 after purchasing an additional 18,227 shares in the last quarter. Nebula Research & Development LLC purchased a new position in shares of Bank of America during the second quarter valued at approximately $1,396,000. Finally, Vivaldi Capital Management LP grew its holdings in Bank of America by 4.2% during the second quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider's stock worth $417,000 after buying an additional 355 shares in the last quarter. Institutional investors own 70.71% of the company's stock.

Bank of America Trading Up 1.7%

NYSE:BAC opened at $61.62 on Thursday. Bank of America Corporation has a 12 month low of $44.75 and a 12 month high of $62.03. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 1.23. The firm's 50 day moving average is $54.93 and its 200 day moving average is $53.05. The stock has a market capitalization of $437.31 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.01 and a beta of 1.17.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.08. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The business had revenue of $8.08 billion during the quarter, compared to analyst estimates of $30.78 billion. During the same period in the prior year, the company earned $0.89 earnings per share. Bank of America's revenue was up 19.6% compared to the same quarter last year. Sell-side analysts expect that Bank of America Corporation will post 4.51 earnings per share for the current year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were paid a dividend of $0.28 per share. The ex-dividend date was Friday, June 5th. This represents a $1.12 annualized dividend and a dividend yield of 1.8%. Bank of America's dividend payout ratio is presently 27.72%.

Wall Street Analyst Weigh In

BAC has been the subject of a number of analyst reports. Jefferies Financial Group reissued a "buy" rating and issued a $75.00 price target on shares of Bank of America in a research report on Tuesday. Morgan Stanley upped their target price on shares of Bank of America from $61.00 to $67.00 and gave the stock an "overweight" rating in a research note on Monday, June 29th. Daiwa Securities Group increased their target price on shares of Bank of America from $58.00 to $61.00 and gave the company an "overweight" rating in a report on Tuesday, April 28th. Oppenheimer lowered shares of Bank of America from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 30th. Finally, Argus set a $70.00 price target on shares of Bank of America in a report on Wednesday. Twenty-one research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $63.77.

Insider Buying and Selling at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the completion of the sale, the insider owned 1,373,397 shares of the company's stock, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.27% of the company's stock.

More Bank of America News

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: Bank of America beat Q2 expectations, with EPS of $1.21 topping estimates and revenue rising sharply year over year, helped by stronger net interest income, trading, and investment banking. Bank of America Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Analysts raised targets after the earnings release, including Truist, KBW, Barclays, and Wells Fargo, signaling growing confidence in BAC’s earnings outlook and potential upside. These Analysts Boost Their Forecasts On Bank of America Following Upbeat Q2 Results
• Positive Sentiment: Management said the consumer is still spending, with travel, entertainment, gas, and other discretionary categories holding up, which supports loan demand and fee-generating activity. Bank of America Says Consumer Unit Earned Nearly $3.3 Billion as Spending Holds Up
• Positive Sentiment: BofA highlighted durable growth drivers on its earnings call, including rising NII, loan and deposit growth, operating leverage, and AI-driven productivity gains. Bank of America Q2 Earnings Call Points to Durable Growth Drivers
• Neutral Sentiment: Separate articles also noted broader optimism around the U.S. economy and financial stocks, which may be helping sentiment across the banking sector. Money Is Suddenly Rotating Into Financial Stocks. Here's What's Driving It -- and Whether the Move Lasts.

Bank of America Company Profile

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.

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